Editor’s Note: Related tickers: Royal Dutch Shell plc (ADR) (NYSE:RDS.A), Total SA (ADR) (NYSE:TOT), Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Chevron Corporation (NYSE:CVX)
Vitol Sells Urals at Lower Price; Surgut Awards September Tender (BusinessWeek)
Vitol Group sold Russian Urals blend at a lower price than the previous trade, the first transaction in 10 days in the Mediterranean. Royal Dutch Shell plc (ADR) (NYSE:RDS.A) withdrew its earlier bid for North Sea Forties crude. OAO Surgutneftegas sold five cargoes of 100,000 metric tons each for loading in September from the Baltic Sea ports via a tender to Total SA (ADR) (NYSE:TOT), Eni SpA and China International United Petroleum & Chemical Corp., known as Unipec., according to three traders who participate in the market, asking not to be identified as the information is confidential.
Total to Buy Chevron Egypt Operations With Beltone Funds (Bloomberg)
Total SA (ADR) (NYSE:TOT) said it reached an agreement to buy Chevron Corp. (CVX)’s Egypt retail and aviation businesses, the company’s second acquisition in Egypt this year. The French oil company and Beltone Private Equity managed funds will acquire 66 service stations, two oil depots and aviation fuel operations at the Cairo and Marsa Alam airports, according to a joint e-mailed statement today. The deal is set to make Total Egypt the biggest marketing and services subsidiary of its parent company outside Europe.
September 6th Options Now Available For Petroleo Brasileiro (PBR) (Forbes)
Investors in Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) saw new options begin trading today, for the September 6th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the PBR options chain for the new September 6th contracts and identified one put and one call contract of particular interest. The put contract at the $13.50 strike price has a current bid of 20 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $13.50, but will also collect the premium, putting the cost basis of the shares at $13.30 (before broker commissions).
EU will approve Nynas’s Royal Dutch Shell deal (IVCPost)
The oil refiner earlier announced its 100,000 barrels per day (BPD) deal in 2011. EU decided to do a detailed investigation to determine whether Nyna’s deal with Royal Dutch Shell plc (ADR) (NYSE:RDS.A) would break antitrust laws and would solely produce naphthenic oils for the European market. Naphthenic oils are the basic materials to products like metalworking fluids, anhesives, and ink, among others. Both companies are awaiting regulatory approval from EU. Nynas was founded as a national oil company in Sweden and is known for its specialty in naphthenic oil and asphalt products. Royal Dutch Shell plc (ADR) (NYSE:RDS.A) is a UK-Dutch multinational company with headquarters in the Netherlands and delves in the business of oil and gas.
Total S.A. Oil & Gas Exploration and Production Operations and Cost Analysis – Q1, 2013 (SBWire)
Reportstack, provider of premium market research reports announces the addition of Total SA (ADR) (NYSE:TOT) Oil & Gas Exploration and Production Operations and Cost Analysis – Q1, 2013 market report to its offering Total S.A. Oil & Gas Exploration and Production Operations and Cost Analysis – Q1, 2013 …Total SA (ADR) (NYSE:TOT) Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational data, analysis and strategic insight into company.
Petroleo Brasileiro SA Stock Rating Upgraded by Zacks (PBR) (Zolmax)
Zacks upgraded shares of Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) from an underperform rating to a neutral rating in a report released on Tuesday, American Banking & Market News reports. Zacks currently has $15.80 price objective on the stock. Zacks has also modified their ratings on a number of other basic materials stocks in the few days. The firm upgraded shares of Silicon Motion Technology from an underperform rating to a neutral rating. The firm now has a $11.40 price target on that stock.
Chevron Nigeria withdraws from Olokola LNG (HydroCarbonProcessing)
Chevron Nigeria has withdrawn from the Olokola liquefied natural gas project intended to exploit Nigeria’s vast gas reserves after it failed to become operational. …The OKLNG project company comprises the Nigerian National Petroleum Corp., BG Group, Chevron Corporation (NYSE:CVX) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A). Mr. Haarstrup said that Shell also withdrew from the project last month, while BG left in June 2012. A Shell spokesman in Nigeria declined to comment on whether the company has withdrawn from the project.
Brazil to Receive Reloaded LNG Spot Cargo From Spain at Pecem (BusinessWeek)
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Brazil’s importer of liquefied natural gas, is set to receive a reloaded spot cargo from Spain, shipping data show. The Wilgas, with a capacity of about 127,000 cubic meters, is en route to Pecem, according to transmissions captured by IHS Fairplay on Bloomberg. It was scheduled to dock Aug. 26, the data show. State-owned Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), known as Petrobras, has a floating regasification terminal at the port in northeastern Brazil.
